Quarry LP Raises Stock Holdings in Lamar Advertising Company $LAMR

Quarry LP boosted its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 444.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,415 shares of the real estate investment trust’s stock after purchasing an additional 1,155 shares during the period. Quarry LP’s holdings in Lamar Advertising were worth $161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bessemer Group Inc. boosted its holdings in Lamar Advertising by 33.9% in the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 94 shares during the last quarter. First Manhattan CO. LLC. boosted its holdings in Lamar Advertising by 0.3% in the fourth quarter. First Manhattan CO. LLC. now owns 28,765 shares of the real estate investment trust’s stock valued at $3,502,000 after purchasing an additional 100 shares during the last quarter. Gilbert & Cook Inc. boosted its holdings in Lamar Advertising by 2.7% in the first quarter. Gilbert & Cook Inc. now owns 4,455 shares of the real estate investment trust’s stock valued at $507,000 after purchasing an additional 117 shares during the last quarter. Tocqueville Asset Management L.P. boosted its holdings in Lamar Advertising by 0.5% in the first quarter. Tocqueville Asset Management L.P. now owns 21,993 shares of the real estate investment trust’s stock valued at $2,502,000 after purchasing an additional 120 shares during the last quarter. Finally, Truvestments Capital LLC boosted its holdings in Lamar Advertising by 79.5% in the first quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Up 0.9%

NASDAQ:LAMR opened at $127.25 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The business’s 50 day moving average is $123.45 and its two-hundred day moving average is $119.00. Lamar Advertising Company has a 52 week low of $99.84 and a 52 week high of $139.88. The company has a market cap of $12.88 billion, a PE ratio of 29.59 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. The business had revenue of $579.31 million for the quarter, compared to analysts’ expectations of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, analysts predict that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, September 19th. Lamar Advertising’s dividend payout ratio is presently 144.19%.

Analysts Set New Price Targets

A number of research analysts recently commented on LAMR shares. Morgan Stanley increased their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Wells Fargo & Company reduced their target price on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and increased their target price for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. reduced their target price on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Lamar Advertising currently has a consensus rating of “Hold” and a consensus price target of $134.20.

Insider Buying and Selling at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 14.99% of the company’s stock.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.